the german sportswear maker says profit it year will miss its forecast by at least 118 million euros. it cites lower demand for golf supplies in north america and weaker demand in russia as sanctions and ukraine crisis could hurt the russian economy. the stock market in portugal was weighed down by a 42% tumble for the bank taking a beating after it reported a net loss of 3.6 billion euros and needs to raise further capital. it has fallen out of grace with investors after an audit discovered irregularity as at its parent company controlled by the family. if we look back at the united states shares in t-mobile are bucking the trend on wall street trading more than 6% higher on reports that the company i will add is making takeover bid and it has come out to confirm that in a statement. this sets the scene for a bidding war for america's fourth largest mobile network sprint. the third largest has put in an offer for t-mobile u.s. in other words, it is a story we will be watching probably the next few days if not weeks. >> thank you indeed for that update. with the business news. up next

the world cup is proving to be very lucrative for german sportswear manufacturer adidas. the company is the official outfitter of both finalists, germany and argentina. >> someone is making money there. the german team shirts are very in demand. those with the names of the strikers including miroslav klose are especially in demand. and it is not cheap either. >> mm-mmm. i like your miroslav klose jacket. [laughter] >> we will be right back after break. >> welcome back everyone. police in brazil are searching for a british man arrested in a sting on a $100 million world cup ticketing scam. >> they say ray wheeling, a senior director of fifa's hospitality company, is guilty of a ticketing scam. >> police arrived to arrest him. they say whelan left the hotel in haste. when police checked his room, the tv will was still on. his flippers were still there. he is on the run, they say. >> he is a fugitive. we hope that he presents himself as soon as possible so all of the questions being asked can be cleared up. >> brazilian authorities had arrested him earlier this week and rele

. >> reporter: the swoosh is a global icon and nike is the largest sportswear company in the world. it was founded in 1964 as blue ribbon sports by phil night and his former track coach. it's head quartered near oregon. 2013 revenue, more than $25 billion. they formed blue ribbon when knight brought home running shoes from japan. in 1971 the company took the name nike, the greek goddess of victory. it expanded to shoe apparel and michael jordan helped change the industries. at this year's world cup, nike outfitted ten teams, one more than adidas, but adidas made the soccer ball. they are headed in germany. 2013 revenue under $20 billion. the founder, had been making athletic shoes since the 1920s. adidas was one of the first companies to pay athletes using the gear. the logo, three paralal bars became known around the world long before there ever was a swoosh. >> so which sneaker and athletic apparel giant is the winner in this global rivalry? nike or adidas. let's join bert. you made an interesting comment, you think adidas makes a better product but vote nike, why? >> because phil

what the sportswear company is betting big on to fuel growth. >>> house republican leaders cancelled a vote on a $659 million bill to improve security at the u.s., mexico boarder and have not adjourned as they had planned. they did so because of divisions within the party and a lack of support from democrats. it's unclear what congress is going to do now, if anything to deal with the tens of thousands of central american immigrants, mostly children who are coming into this country illegally. speaker john boehner does say that the house will continue to seek solutions to the crisis. >>> congressman paul ryan's bold budget cutting propels impressed republicans but haven't passed congre congress. john harwood asked why and whether congress will get anything done in the next two years. >> i didn't want to get into a debate about proper funding levels of the status quo because we would spend all this time about budget numbers. i wanted a debate how to reform the status quo. these reforms could occur at any spending level, you can decide later on. >> two objections, one, i talked to hillar

you will see sportswear.ifestyle brand. >> that is something that everybody is trying to capitalize. how do you do that? how do you make that happen? >> i think you have to understand the consumer. i spent my career trying to understand the american consumer and how he dresses both in his business attire and how do you dress to go to a brunch or meet your -- real life. that is what it is about. >> i want to thank you for fitting into our lives. joseph abboud. thank you for "taking stock." good night. ♪ live from san francisco, welcome to bloomberg west will be cover innovation, technology, and the future of business. first, a check on your headlines. cloud storage provider is raising an additional $150 million in funding. people with knowledge of the situation say the latest round buys thebought it and company sometime after delaying its ipo. if you recall, they officially -- originally filed for the ipu in march and was hoping to raise $150 million in the offering. google is temporarily cpi

shirts,will see dress you will see sportswear.tyle brand. >> that is something that everybody is trying to capture. how do you do that? do you go to events? how do you make that happen? >> i think you have to understand the consumer. i spent my career trying to understand the american consumer and how he dresses both in his business attire and how do you dress to go to a brunch or meet your -- real life. that is what it is about. it is about fitting into your life. >> i want to thank you for fitting into our lives. menswear designer and legend, joseph abboud. thank you for "taking stock." i am pimm fox. good night. ♪

i mean certainly, the sportswear producer are adidas has seen its shares up 2.73% on the dax stock exchangeoday. and that's based on the fact they sold out of shirts, even 2 million were sold before the final was played. and it's going to be 12 hours before they can replenish the new shirts with the four stars across the logo. the hospitality and the merchandising and that sort of stuff. the fact is the german economy is in have good slaip already. but a lot of -- shape already. there's going to be a blip of bad productivity from today alone so it's going to be a mixed bag. >> today's sales will be going across the roof. let's look at how that final unfolded. andy richardson has your report. >> the world's most of famous football stadium, rio, for the final game. germany started the game nervously. a misguided header. the same player had the same ball in the net minutes later. his effort those rightly ruled offside. and the first half finished with germany looking dangerous and argentina hanging on. missed opportunities remained a theme of the second half even leo messi joined in. his final

. >> how do you compare yourselves of theplethora sportswear companies out there.ts you apart? is really trying to create a vintage look even though we are quite technical. a very modern look and we really want to hark back .o the days >> which is where the iffley road name comes from. weary do i need to something glamorous when i run? i resign myself to that. again i remember going and not enjoying anything there at all. it looks so very technical and i think it's a lovely to run in something a little more understated. >> you've been at it now for about a year. was the 59th anniversary on the sixth of may. we are just over a year old. what has been the biggest surprise for you? >> it is such hard work. you have to kind of peak -- keep putting the brand out there and getting into their minds. aire spend a lot of time on talking about the emerging of tech. are you finding that people would like your vintage clothes with kind of a tech aspect to it? claire and i were talking -- training for an ironman. we were out running for two or three hours. you can wear for long